Of the 24 companies, three companies (Asian Logistics, Preludesys India and state-owned divestment candidate Rashtriya Ispat Nigam) have their approvals valid until the last week of June and may raise a little over R2,600 crore.

Just Dial’s issue, which was the largest offer by an Indian web-based and local search company, was subscribed almost 12 times on Wednesday. The Rs 950-crore IPO drew a strong response from FIIs and high net-worth individuals. The qualified institutional buyers' (QIB) portion was subscribed 10.12 times, while the non-institutional book was subscribed 22.34 times with bids mostly coming in from Indian corporates and HNIs.

However, primary market experts warned the success of Just Dial's IPO should not be looked at as a revival in the overall primary markets. “We could see very few, selective companies tapping the primary market in the near term. Investors are only eyeing good opportunities...issues with good quality and pricing (valuations),” said Prithvi Haldea, CMD, Prime Database. Bankers